Operating Facilities. The parties agree that all Operating Facility Indebtedness under all Operating Facilities shall be guaranteed under the Loan Party Guarantee and secured by the Security and shall, as to the Security, rank pari passu with the Obligations, the Swap Indebtedness and the Cash Management Facility Indebtedness.
Appears in 2 contracts
Sources: Credit Agreement (PRECISION DRILLING Corp), Credit Agreement (Precision Diversified Oilfield Services Corp.)